As coronavirus hits Russia, private jet companies are reaping the spoils of travel bans

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While the coronavirus pandemic has sent global airline travel into a nosedive, some private jet companies are seeing a surge in demand as wealthy Russians seek to ride out the pandemic in the West.

that the offshore assets held by Russia's hyper-rich exceed that of one year of Russian GDP, or "the equivalent of the entirety of the official financial assets held by Russian households".

"These rich Russians live between London, Monaco and Moscow: some have never left Russia and control their country via offshore entities." This chart uses a logarithmic scale to highlight coronavirus growth rates. Read our explainer to understand what that means — and how COVID-19 cases are spreading around the world.

"People believe that it is safer for them to be at their private residences abroad," said Margarita Lomakina, the company's commercial director.

 

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